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Explained in Charts
NSE:IFCI has formed a bearish harmonic setup. With RSI has at over bought
one can short it below 25
T1 - 23.30
T2 - 22.20
SL - 26.70
Go long in IFCI.
As per Fibonacci analysis, it has shown 100% drawdown wrt previous fall and has maintained to close above 0.3 fibs ratio.
Expect further upside to 26.3 levels in 3-4 trading sessions with a SL of 25.1
Finally out for breakout
Weak below 30.85, Resistance 33.55, Support 28.40, 25.20, 22.60.
IFCI nice accumulation is on. Abv 30 can head to 40-45 in short term.
IFCI Found a strong support @ 23,1 .
RSI value is 35 indicating oversold.
Long Position @ Current Level
Target @ 25.95
SL @ 21.1
Price seems to be setting up nicely for a rally. It has to clear a few resistance though. Sort out those levels and plan a trade accordingly. Worth having this one in watchlist.
IFCI on verge of breakout
Upside, Downside, and Neutral.